Marques Colston, the No. 18 overall player on PFT’s Hot 100 Free Agency list, won’t be hitting the market after all.
FOX Sports’ Jay Glazer reports that the Saints and Colston have agreed to terms on a five-year contract that will keep Colston in New Orleans through 2016.
Florio mentioned late last night that New Orleans was working “feverishly” to get Colston re-signed despite a limited amount of salary cap space. They executed.
Per NFL Network’s Jason La Canfora, the deal is worth $40 million including just under $20 million guaranteed. Florio is reporting that those numbers are a bit inflated, though. He’ll have the actual financial details shortly.
Colston, who turns 29 in June, has been incredibly productive manning the slot in the Saints’ pass-first offense. He broke into the league as a seventh-round pick out of Hofstra in 2006, and has averaged over 1,000 yards per season ever since.
The top free agent receivers left on the board include Vincent Jackson, Brandon Lloyd, Robert Meachem, Reggie Wayne, Mario Manningham, and Pierre Garcon.